Public Storage (PSA) vs Ventas, Inc. (VTR)
A side-by-side comparison of Public Storage and Ventas, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 10, 2026. Differences are shown without an overall score or investment verdict.
Total return — PSA vs VTR
growth of $100 · dividends reinvested · last 10yPSA vs VTR: by the numbers
- •PSA is the larger company ($55.29B vs $43.75B market cap).
- •PSA converts more revenue to profit (41.80% vs 4.13% net margin).
- •VTR grew revenue faster over the past five years (11.91% vs 9.62% CAGR).
- •PSA pays the higher dividend yield (4.07% vs 2.24%).
Metrics side by side
Valuation
| Metric | PSA | VTR |
|---|---|---|
| P/E ratio | 28.29 | 166.63 |
| Forward P/E | 29.57 | 154.38 |
| P/S ratio | 11.31 | 6.79 |
| P/B ratio | 6.02 | 2.99 |
| EV / EBITDA | 18.49 | 24.66 |
| FCF yield | 5.10% | N/A |
For REITs like Public Storage, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Ventas, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | PSA | VTR |
|---|---|---|
| Gross margin | 24.96% | -2.58% |
| Operating margin | 48.30% | 12.94% |
| Net margin | 41.80% | 4.13% |
| ROE | 22.24% | 1.82% |
| ROIC | 11.74% | 2.81% |
Dividends
| Metric | PSA | VTR |
|---|---|---|
| Dividend yield | 4.07% | 2.24% |
| Payout ratio | 114.50% | 370.37% |
Public Storage's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Ventas, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | PSA | VTR |
|---|---|---|
| Revenue CAGR (5Y) | 9.62% | 11.91% |
| EPS CAGR (5Y) | 7.52% | -14.16% |
| FCF CAGR (5Y) | 9.64% | 0.22% |
| Total return CAGR (5Y) | 1.70% | 13.45% |
Frequently asked
- Which has grown faster, PSA or VTR?
- Over the past five years, VTR grew revenue faster — PSA at a 9.62% CAGR versus VTR at 11.91%.
- Does PSA or VTR pay a bigger dividend?
- PSA yields 4.07% and VTR yields 2.24% based on trailing dividends and the latest price.
- Is PSA or VTR more profitable?
- PSA runs the higher net margin — PSA at 41.80% versus VTR at 4.13%.
- How have PSA and VTR total returns compared?
- Over the past 10 years, PSA delivered 6.81% and VTR delivered 7.06% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Public Storage & Ventas appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 10, 2026.